UPDATE 1-PRESS DIGEST - China - Nov 30

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BEIJING/SHANGHAI, Nov 30 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Friday. Reuters has not checked the stories and does not vouch for their accuracy.

CHINA SECURITIES JOURNAL

-- Experts participating in a capital market forum organised by China's top securities brokerage, CITIC Securities (600030.SS), forecast China's stock market would continue a bull run in 2008, propelled by forecast economic growth of 10.8 percent and a more than 30 percent annual jump in corporate earnings in 2008.

-- The recent series of sales of Chinese companies' stakes by Singapore state investor Temasek [TEM.UL] was mainly motivated by a desire to take profits at high valuations, sending a warning signal to stock investors on the secondary market.

SHANGHAI SECURITIES NEWS

-- The purchase of a 4.2 percent stake in Dutch-Belgian financial services firm Fortis (FOR.AS) by China's No.2 life insurer, Ping An Insurance (Group) Co 601318.HK(2318.HK), set the stage for a major overseas expansion by China's insurers.

-- Thursday's strong rebound in Shanghai copper and zinc futures appeared to be propelled by short-term speculative funds taking advantage of the recent steep fall in futures prices, casting doubts over whether the rebound could be sustained.

SECURITIES TIMES

-- This week's meeting of China's Communist Party's political bureau stressed the need to prevent a rapid rise in inflation and the potential for economic overheating, without mentioning asset prices, indicating that the government does not regard the past two years of stock surges as a bubble.

-- An expected quickening of appreciation of the yuan CNY=CFXS will benefit Chinese banks the most and the sector has the potential to outperform the stock market in the medium term.

CHINA BUSINESS NEWS

-- China's first set of industry guidelines for coal, issued on Thursday, will benefit major producers such as Shenhua Energy (601088.SS)(1088.HK) but hit small companies as it encourages an industry consolidation.

-- Economist Ha Jiming forecast China would not raise interest rates again this year and would only raise them by a modest 0.54 percentage point next year, as the government uses currency appreciation to fight inflation.

FINANCIAL NEWS

-- Policy revenue at Taikang Life Insurance, China's fifth-largest life insurer, surged to over 30 billion yuan in the first 11 months of this year, 50 percent higher than the total last year, raising its domestic market share to 6.56 percent, the company said.

CHINA DAILY (www.chinadaily.com.cn)

-- China is in dire need of talented people from abroad to help with its development and innovation in various areas, and the government will offer more appealing packages to attract foreign talent, the head of the State Administration of Foreign Experts Affairs said.

-- Producers or sellers of fake drugs that cause serious harm to more than three people, or slight injury to more than 10 people could face a life sentence or the death penalty, under a draft rule issued by the State Food and Drug Administration.

PEOPLE'S DAILY

-- China's first official village-level rural financial cooperative will likely report a loss in its first year of operation. A local official said the projected loss was attributed to restrictions imposed on the business, such as operating only within the village, and due to expenses to decorate and equip its office in compliance with government departments. (Compiled by Beijing and Shanghai Newsrooms; Editing by Ken Wills and Edmund Klamann)